Infrastructure Minister Sean Fraser’s office says its ‘unacceptable’ the bank did not respond to initial complaint
Ehren Cory , CEO of Canada Infrastructure Bank , in Toronto, on April 19, 2023. Connections between Cory and Darren Smart , Parkland Corp.'s senior vice-president of energy transition and corporate development, gave rise to an anonymous complaint concerning alleged conflicts of interest.
The spouses of both men, Robin Cory and Margot Smart, are the two principals of a small consulting firm, Colbeck Strategic Advisors, which works with non-profits and foundations. The bank says the allegation about a potential conflict of interest was first included in another anonymous e-mail sent by the same person on April 5 to Infrastructure Minister Sean Fraser, Prime Minister Justin Trudeau and all other federal party leaders. Ms. Bird said the bank apologized to the complainant for the delay in responding to the October e-mail, blaming it on a breakdown of the bank’s reporting website.
“While the CIB board acted promptly to address the complaint once the April 5th email was brought to their attention, it is unacceptable that the complaint made in October was not addressed by the CIB, until that time,” he said in an e-mail. Ms. Bird said Mr. Cory properly disclosed the potential of a conflict to CIB colleagues in April, 2023, seven months before the deal was finalized and announced publicly. The bank’s general counsel reviewed the matter and concluded there was no real or perceived conflict and that Mr. Cory did not need to recuse himself.
Bank Conflict Spouse Board Complaint Cib Interest Cory Smart Jian Ghomeshi National Research Council
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